Forex Daily Forecast, Analysis and Prediction

US Dollar remains relatively weak while the British Pound is one of the stronger major currencies after higher than expected UK inflation data was released earlier today.

USD/ZAR hovers near 18.25 support, with potential for a breakout above 18.50 or a decline below the 200-day EMA toward 17.65 amid market uncertainty.

CHF/JPY hovers near 168 support, with a break lower targeting 166, while a move above 170 could signal broader yen weakness in risk-on conditions.

GBP/JPY stabilizes near 190 support, with traders eyeing a breakout above key moving averages to target 195 amid ongoing yen strength and rate differentials.

CAD/CHF gains strength near 0.64 resistance, with traders watching for a breakout that could push the pair toward 0.66 amid Swiss franc weakness.

EUR/USD retreats from 1.05 resistance as the US dollar strengthens, with traders watching for a potential breakdown below the 50-day EMA.

Concerns over a widening global trade war continue to support gold prices, which are currently hovering around the resistance level of $2,915 per ounce.

For two consecutive days, the EUR/USD currency pair has resumed trading within the broader downward trend, stabilizing around the support level of 1.0452

The USD/SGD has been able to sustain a lower realm since last Friday, while a slight climb higher has been seen this morning it does seem that a more tranquil mindset has begun to shift attitudes.

The Australian Dollar has remained firm against the US Dollar despite the RBA’ 0.25% rate cut which was applied earlier today, as the Bank pushed back against expectations of several further cuts in 2025.

The USD/BRL closed near the 5.7130 ratio after yesterday’s trading, but volumes in the Brazilian Real were low due to the U.S holiday which affected global Forex conditions.

During the trading session on Monday, it has been somewhat quiet in the dollar against the Mexican peso, but that's not a huge surprise considering that it was President's Day in America.

The British Pound has formed a rather intriguing candlestick for the session on Monday against the Swiss Franc, as we initially gapped lower only to turn around and rally fairly significantly.

The Euro has risen slightly against the Swiss franc during fairly uneventful trading on Monday.

The Canadian dollar has fallen pretty significantly against the Japanese yen during trading on Monday as it looks like the 50-day EMA has come into the picture to offer significant resistance.